ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Monday Jun 25th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Ethereum Price Forecast: ETH/USD At Risk Of Further Losses

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price is at risk of further declines against the US dollar. ETH/USD must stay above the $520.00-540.00 support to start a fresh upward recovery.

Key Highlights

Ether’s price is struggling to correct higher above $600.00-610.00 against the US dollar.
There was an important break below a bullish trendline with support at $580.00 on the daily chart of ETH/USD.
ETH/BTC is currently trading in a range around the 0.0800BTC pivot level.

Technically, the daily chart indicators have moved in the bearish territory with negative signs.

Ether Price Analysis

This past week, ETH/USD started a major bearish wave and declined below a few important support levels such as $680.00, $650.00, and $600.00. It tested a key support area near $550.00 and is currently consolidating losses.

On the other hand, there were gains noted in ETH/BTC, but the pair failed to hold the bullish bias above 0.0800BTC. It corrected lower and is currently trading in a range around the 0.0800BTC pivot level.

Ethereum Price Analysis ETH/USD

Let’s start with the daily chart of ETH/USD to understand the last slide from the $833.91 high. The pair consolidated around the $700.00 pivot level for a few days before clearing a bullish trendline with support at $680.00.

It opened the doors for a sharp downward move and the price broke the $650.00 and $600.00 support levels. More importantly, there was a break below the 50 Fibonacci retracement level of the last wave from the $359.33 low to $833.91 high at $590.00.

The price tested a crucial support region at $520.00-540.00, which is also the 61.8 Fibonacci retracement level of the last wave from the $359.33 low to $833.91 high. Should Ether fail to stay above this, there could be more declines toward $400.00.

Ether Price Analysis Weekly Chart

Dropping down to the 2-hour chart of ETH/USD, the pair recently recovered above a key bearish trendline with resistance at $590.00. However, Ether buyers failed to gain momentum above $600.00-610.00.

As a result, Ether’s price moved down and broke a connecting bullish trendline support at $590.00. Overall, the current price action indicates ranging moves below $600.00 with a slight bearish angle.

To initiate a fresh upward move, ETH/USD must close above $600.00 and $610.00. On the downside, the $540.00 and $520.00 support levels hold the key for the next move.

Weekly Resistance Levels

$600.00 and $610.00

Weekly Support Levels

$540.00 and $520.00

Daily RSI

The RSI is now well below the 40 level.

Daily MACD

The MACD is showing negative signs in the bearish zone.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether and Ethereum Analysis News.

Disclaimer
The content on ETHNews.com is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.